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tv   Bloomberg Business Week  Bloomberg  May 20, 2017 12:00am-1:01am EDT

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carol: welcome to "bloomberg businessweek." in this week's issue, a question being asked from wall street to main street. oliver: ifmerica -- america were a company, would you keep its ceo? "bloomberg's next on businessweek." ♪ oliver: we are joined by bloomberg news editor-in-chief john micklethwait. you essentially hold up donald trump his own meter stick, by his own standards for what he promised. tell us about how you went about taking about this. probably thek it's
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fairest way to judge him, and that he said it's the way he wanted to be judged. he sold himself as being a businessman who would run the government more efficiently, and he would do better negotiation. he said he would -- he was better. he said he could run things very efficiently. i thought it was a nice conceit to sit and look and say, he was the ceo, and if you were the board examining how he had run this company of america, how well had he done? carol: let's go down that path. just in talking to russian officials and giving up intelligence -- guest: allegedly. carol: allegedly. guest: if you were the board and this was your ceo, you would immediately call the whole thing with comey, which obviously we
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have defined it what the facts are, and the precedent. but on the front become a, you would immediately say, what were you doing? were you trying to silence a whistleblower? and that is a very egregious thing. in terms of inviting the russians comment and it would appear, handing over secrets to them, that is roughly the same as inviting what is your main competitors in the boardroom and handing over sensitive information. again, people would want to see that. any of the things that look like nepotistic conflict of interest. those are the things boards would do. even the lowest version, which is many ceos -- it is he a appears republican says something that is manifestly they either -- they oftentimes lose their jobs because of that. you saw that happening at yahoo!, radioshack. at the very least, they have to complete say i was wrong.
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the crowd of my inauguration wasn't bigger than barack obama's. i didn't invent "priming the pump." there arehind it three or four big ones. as he achieved anything? i think you would be worried by some of the goals he set for himself. i think the second, and perhaps most ceo like thing he has failed to do, is to assemble a team. national security, you have an incompetent group of people there. they haven't put enough people into most of the white house. there's a huge, gaping hole in the administration. out of the holes they have filled, a lot of them seemed to be suspiciously filled by people who are cronies of his. oliver: it is an interesting way to assess what the president has done, to hold them up to what his promises were, saying i am going to run the company has a ceo.
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already we were talking about what ceos have to provide to their investors. at the end of the day, it ultimately comes down to creating shareholder value. they are held up to that quarterly. when you think about the president, it is almost sort of an apolitical conversation in terms of efficiency. guest: i think that is the key point. his strategy is to achieve what he set out to do, you put the -- this is not a left-wing look or let go or right wing look at trump. it is simply, is he achieving the things he said he would do? regardless, he could be a communist or a conservative. it really doesn't matter. what matters is whether he is actually achieving things and behaving in a way that he is making government more efficient. and i think on quite a lot of levels, on virtually every level you would judge an executive by,
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he is not doing very well at the moment. carol: you make the point he is not like your typical ceo. his company was that large and he's written books about how he is the dealmaker. guest: i think that, to some extent -- if there is a problem with him saying he is going to run it like a business, in terms of the sort of business experience that would be really useful in running a government, he doesn't have that. he doesn't have running a large corporation or organization. his main skill was as a dealmaker, and doing the deal about a piece of property. getting it built, doing the deal about miss universe, all these different franchises he had. that is where he was skillful. occasionally you see some elements of that coming out of things he's done. this is not something i am in favor of, but his things to do with fair trade, you could argue his way of negotiating with tenet and mexico, he may be getting a little progress there. but the basic functioning of
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government, running it in a normal way where there is a smooth line of communication, that is not something he's had to worry about before, and do something he isn't great at. oliver: is that were the biggest hurdle is for him because of the way he was used to running his own company? he made the decisions from the top down. it seems like with the lack of having a communication team around him or following their instruction, that he kind of sets traps for himself. guest: i think this is maybe reading a bit more than there is in the article, but there is the element that you have this style in private in his business where he could do these deals. he can make these weird pronouncements, and it was part of the fun of being donald trump. he to that into the campaign, and that worked quite well. tweeting as a way of campaigning work extremely well. but the idea that now you have this guy that is less of a manager -- almost more of a court with a king retreating
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into bed with a cheeseburger and tweeting -- even the more wacky bits of silicon valley wouldn't endorse that. government is a big thing with hundreds of thousands of people and some very big responsibilities. that is a different set of instructions, and you can see the areas the trump aministration are running in grown outweigh. you look at tillerson, mick masterson -- mcmasters. when you have tillerson and nikki haley appearing at the same time saying different sad in syria,as partly because they have no idea what the president is saying. if you were the chairman, would you keep him on as he is doing
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at the moment? carol: creating a cover image for the news coming out of washington was the job of creative director rob vargas. guest: the concept came pretty naturally. it's the idea about this hypothetical of america being a company. we asked the question -- we didn't answer it -- america were a company, would you keep the ceo? oliver: i like the coloring and the boldness of it because is pretty savage. it goes straight to the point, it is not political. it is this objective discussion about what has been promised and what has happened. we don't answer that question for anyone. oliver: up next, the infamous i word has started to surface on both sides of capitol hill. carol: impeachment. what the process actually looks like. that's next on "bloomberg businessweek." ♪
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carol: welcome back to "bloomberg businessweek." washington has started drawing comparison between the trump and nixon white houses. oliver: inevitably there are rumbling of the word impeachment. we talked to reporter paul barrett about what that would mean. impeachment is a fancy word for accusing the president of high crimes or misdemeanors. carol: not actual charges. >> right. that's what -- the house of representatives impeaches a president, equivalent to
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indicting the president, and he goes over to the senate, where there is a trial. the senate can acquit or convict. in the house you need only a simple majority to impeach. in the senate you need a 2/3 majority in order to remove the president. carol: here we are in a republican-controlled congress, is there no chance we could see president trump impeached? >> i think it is fair to say it will be a real long shot with the current alignment. but remember the 2018 elections are not that far off. if there continued to be more damaging revelations and if democrats pounded the drum of impeachment, you could see by 2019 a more serious threat. carol: let me ask you about obstruction of justice, one of the things that has been talked about, that is what could lead to the impeachment of donald trump. legally that is a pretty strong term. or is it? >> it is. it is a crime defined by the federal statutes. it says anyone who correctly tried to impede or otherwise interfere with public
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proceedings is guilty of obstruction of justice. in the courts of law, it is a tricky crime to convict on because that notion of corruption implies that the prosecutor has to show a criminal intent on the part of the defendant. however, in the impeachment context, the technical requirements of criminal law do not necessarily apply. determines that what the president in question has done is obstruct justice, that is all they have to find. it is a much more political process than a conventional prosecution. carol: what does it possibly mean with a person like donald trump, who some will say -- if you read the news coming out of bloomberg and other folks -- saying this is the kind of man he is, that maybe there wasn't any criminal intent, but that he may be said flynn is a good guy. it wasn't meant like to drop it, that this is how he operates. does that work in his favor?
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reporter: certainly that kind of argument would be mounted in his defense, whether he was in criminal court or in the congress. you would see his defense lawyer saying this guy is a wheeler dealer saying things he doesn't always mean. when he says can you forget about the flynn investigation, he was just being aspirational and expressing his emotions. he wasn't actually trying to force the fbi director to do anything. all of those things would be raised. in a criminal court were you have to show guilt beyond a reasonable doubt, i think those defenses could be quite effective. in the impeachment context, congress is looking for whether the president has abused his official power. that is sort of a broader concept, and the idea of obstruct justice could be seen in a more flexible way. carol: we mentioned this meeting between president trump then fbi director james comey, where he said, he's a nice guy, can you drop this, so on and so forth.
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isore that conversation, it said he actually asked other members of his ministration to leave the oval office. --t automatically could automatically put a veil of secrecy over it and makes it seem more criminal. reporter: it absolutely makes the situation look a little morning various, and -- more nefarious. the atmosphere surrounding the alleged infraction, there are other pieces of circumstantial evidence that i think could potentially play in. the fact that the deputy attorney general was basically put in the position of writing a defense of the firing of comey that actually contradicted trump's own explanation when he went on national tv and said "i was thinking about the russian investigation when i showed this guy the door." carol: up next, a profile of the man with the most important job
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in the department of justice, deputy general rob rosenstein. oliver: this is bloomberg. ♪
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oliver: welcome back to "bloomberg businessweek." carol: you can also listen to us on radio on sirius xm channel 119.
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oliver: and the politics and policy section, a look at the reputation of deputy attorney general rob rosenstein. carol: which has suffered after his memo to president trump resulted in the firing of then fbi director james comey. >> here is the memo president trump use justify the firing of james comey. our sources indicate rosenstein was not very pleased he was used as a scapegoat, even though he picture quite a damnin --a damning picture of james comey. the naming ofs the former fbi director robert mueller as the special counsel, so rosenstein kind of took the temperature of the political tods and realized he needed
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do what both democrats and republicans were calling for, which was to name a special counsel and get this outside of the political space and into the hands of a well-respected veteran prosecutor who will have total authority over this russia probe. carol: there's been calls for a special prosecutor now for a while. was rob rosenstein there from the beginning thinking this would be a good thing, or has he just come around to it later in the game? guest: that is a question i think only rob rosenstein can answer. the timing of this does suggest he was not there a few days ago, and very quickly when this thing blowup, and he got a lot of backlash. nobody really knew who rod rosenstein was until he was used as a justification for firing james comey. i think very quickly he learned to resuscitate what had been his sterling reputation for 20 plus years as a federal prosecutor, he needed to do this and get it
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back into the hands of an independent federal prosecutor and answer a lot of the calls that were coming from both democrats and republicans in congress. carol: my question is, is it still important whether or not we know as a voting public whether or not rod rosenstein was complicit in the firing of james comey, or possibly used as a pond by the white house? is that still important to know? guest: he's not naive. anyone who has the career he has had clearly understands the intersection of justice and politics. that is where his job as deputy attorney general sets. the reporting we have gotten indicate he was surprised and angered by how his memo was used by the white house. that,hat you will out of but he is clearly answering the call that many people are asking him to do. carol: what do his friends say,
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those who really know him? from what i understand, people on both sides of the political aisle like him and endorse him. what do those who know rod rosenstein say about him and his character? reporter: that it is impeachable. he was the longest-serving attorney general of the united states in the entire country when he was nominated to be jeff sessions deputy, basically put in charge of running the day-to-day operations of the justice department, and seen as somebody who could quite ably keep the white house from interfering with some of their highly charged investigations. i think people still feel that way about rosenstein even though mueller will have ultimate authority over this probe. rosenstein will determine his budget and have final say over whether he sticks around or not. it does seem that this will be entirely in the hands of bob mueller. he will have all the powers vested in a federal prosecutor.
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he can, in theory, depose the president. carol: interesting. left at thewhat is justice department, donald trump and his team are still pointing posts at the fbi and justice. what kind of department does that leave? reporter: you have an attorney general who is recused entirely from the biggest thing they're doing, which is this russia probe. they still have a lot of temporary people in place, whether it is at justice or the fbi. whether it is the acting director or a handful of u.s. attorneys that are beneath rosenstein and do have some say, or at least they did, of having some authority over the russia probe. , in reestablishes, i think the minds of a lot of people, the independence of the fbi inside what is a political department. oliver: staying in politics,
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investors are beginning to shy away from donald trump and jared kushner's family businesses. reporter: back when he was running as a candidate, everybody thought it was going to go in the tanker and everyone was going to abandon him. that he won, and that conventional wisdom was reversed. for places where he is already doing business, be at mar-a-lago or the washington hotel, we see people cramming in for drinks and golf rounds. carol: people want the connection. reporter: absolutely. however, in trying to make new deals, his sons who run his company now and his son-in-law jared kushner's company have had a really tough go of trying to either leverage the presidency or simply do business while in the presidency in terms of minting new deals. carol: you've been talking to individuals. what are they saying about the
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trump association or the association with the trump brand and its many different configurations? reporter: just look at what has happened this week so far. the trump association is changing rapidly. typically not for the better, as of late. people are concerned about that just being associated with the idea of the trump brand, but also being associated with the idea of exerting influence or trying to buy influence. most people aren't sure what to do with that. we've never had a president with this far-flung assets and businesses before. nobody really knows what it would mean to do a deal with the president while he is sitting in the white house, let alone one who has a habit of tweeting at businesses or people who make him angry on a fairly regular basis. carol: that's a good point. you don't know when he might comment tweet about something. p is not very consistent in his message -- he is not very consistent in his message. reporter: no he is not, and that
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makes people very nervous. pieces that matches with his business is, but with the business of -- you see that not just with his business, but with the business of jared kushner. they had a hard time even know they have long been royalty in new jersey ever since trump took the white house. carol: i think we all read about that story, initially i thought, i can't believe they are trying to use the influence of the white house because that just seems ethically like such a no-no. i guess they must have had something that this could be a good thing for them. reporter: you see them going to family --ause your the kushner family. they are not really getting any bites from either in china.
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this an interesting deal into bn were even far a field, people don't know what to make of them. carol: it is pretty amazing because the thing about any officials that go into , that they got to get rid of any other their business interests or put things in blind trust. but what happened with the trump family is you got his two sons overseeing it. talked to some folks who said, may doing business would be easier if there is a more believable and clear line between the white house and the business, but not only does trump still on his businesses and his boys are in charge, but eric holder forms about a month ago that he regularly updated donald trump on business. jared kushner divested some of his assets into trusts for his family, but that is one of the most tightknit business families in america, so the idea that that is a clear bright line is hard to believe, as well. carol: up next, nike takes a run at the in cool again. oliver: and knitting together
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the next chapter for ansi -- for etsy. this is bloomberg. ♪
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i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. the shlike a bald penguin. how do i look? [ laughing ] show me the billboard music awards. show me top artist. show me the top hot 100 artist. they give awards for being hot and 100 years old? we'll take 2! [ laughing ]
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xfinity x1 gives you exclusive access to the best of the billboard music awards just by using your voice. the billboard music awards. sunday, may 21st eight seven central only on abc. carol: still ahead in this etsy's issue, struggles to compete while staying true to its mission. oliver: nike wants to be cool again, and they are banking on technology. that's ahead on "bloomberg businessweek." ♪ oliver: a reporter macie drake to nike had borders to find out how the company -- nike headquarters find out how the committee is beating the competition. carol: it includes a tech runner around the track.
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it is a running shoe they have been working on for seven years. it is an extension of their famous air branding. in this case, what they have done is make the airbag the entire soul, which is company have always wanted to do. it is kind of radical looking. it is part of their way to kind of steel back momentum from adidas, who has really caught fire in the north american market and has grabbed a share back from nike. nike is still the giants, but they have lost some momentum, and there is not the only cool brand now the way they were for years. carol: back in 2010 is when i started working on this vapor max shoe. the market has changed substantially. is a like this something that is going to bring it back to its glory days, it's cool factor? reporter: they hope so. it goes for $190 and it is selling out, partly because they
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put it out and limited supplies to keep that buzz going. every time they put out a new color it sells out. they know these shoes will mostly be worn as statement shoes. most running shoes are. carol: it's not really for runners, right? reporter: they tell you if you want to run you can do it, but most people in them won't be running. --y are hoping it will so if it will catch on as a streetwear and maybe office where, but they know it is a provocative and polarizing look. are they at risk when they try to put something like this as a style point? reporter: it is a tricky position. their position has always been that performance is where you start, the fashion follows that. the air shoe in the first place was to be nice cushioning. then the blood it looked cool and they sold a lot of them that way. then peoplet -- thought it looked cool and they sold a lot of them that way. but you start with the function. you see kanye west partnering with adidas to provide a halo
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for the whole brand, given a good name and a market, and drive sales that way for streetwear, which is how most people wear these shoes. oliver: i should point out that they are no athletic shoes, but still in the same market and eating away at their market. reporter: it is the same customers who line up around the block for an air jordan as for a yeezy. carol: the homegrown entrepreneurs get a wake-up call from activist investors. oliver: we talk about etsy's options for survival. reporter: they are publicly traded on the nasdaq exchange. what makes them sort of interesting is that they are a place or you can buy and sell mostly handmade and vintage things. for allout ebay, but things twee.
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hand forged, locally sourced, grass fed. anything of that kind of millennial, expensive, new age thing you can buy on etsy. the business works really similar to ebay. the take a cut of every transaction and they have 1.8 million people who sell things on at the. if you have seen "portland sendup seen kind of a that is hilarious. they have this manufacturing industry where people make stuff. they have to abide by certain values, and what happened a couple of weeks ago is that some activist investors came along. they are pushing for change at etsy and perhaps the most capitalistic way possible. we have a clash of values here. corp, ihe court -- b
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think they are the only publicly held company that has that criteria. reporter: there's a company i think in brazil and new zealand, but they are the only company on a u.s. exchange that is a b cor p. it is sort of like certified fair trade or organic. there's a third party organization that looks at everything you do is a company. what you do for the environment, etc. if you measure up and get his rating, you are b corp. a lot of well-known startups have it. warby parker,-- kickstarter. shareholders to sue at see if they were not being -- to sue etsy if he were
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being unfair to the environment. it seems that they will lose their b corp certification the summer. oliver: pressure coming down from investors in the publicly traded companies. they have a share and enough power to incite change, and that is the crux of the story. to understand that we have to really understand where etsy came from. tells about the pounder -- the founder and who has run the company up to this point. reporter: is a startup like no other. it is based in new york. it is the largest startup come out of new york in the last couple of decades. the founder had kind of an interesting back story. he's not into m.i.t. with a fake student id and winds his way to nyu. he's making handmade computers that are encased in beautiful tsy isand when he starts e kind of by accident.
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he wants to sell these computers he is making, and it creates this fast going -- fast-growing company. the founder left the company and they brought in this new guy chad dickerson. he was the ceo for the past six years. he is interesting because he is kind of a little bit like the founder. he is a former journalist. he worked as an engineer at basically he had this idea that etsy could be both socially conscious and ambitious as a company. carol: up next, financial future of augmented reality camera filters. oliver: this is "bloomberg businessweek." ♪
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oliver: welcome back to "bloomberg businessweek."
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snapchat is unveiling new camera apps that they hope will keep it ahead of facebook. reporter: everyone is hoping this will be the next facebook, and there are just as many people who worry it is the next twitter. snape wants to come out and say they are neither of those things, and that they are something totally unique and should be measured on a different scale, which we don't think they will be lucky enough to get that treatment. they certainly didn't after their earnings and stocks fell more than 25%. oliver: that is what i was just about to say. the editor of businessweek was asking me, and as if facebook is for pictures of your family, instead gramm's for pictures of food, and snapchat is for pictures of declining user growth. [laughter] after that earnings report, everything is kind of blown out of the water. it is all on the table. how much time do they had to convince investors that facebook
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is not going to you their lunch? carol: when facebook came out after its first public earnings, it was disappointing. reporter: they lost half their value. but snape is in a position where they have to make sure that is in thisut snap place where they have to make sure that people continue user growth. what they have to do is come out and solve the user growth issue, but especially prove to people that every time they do something really creative with their platform, that they can keep that as a unique feature that draws people to their at -- to their app that facebook can quickly iterate on a putting in many social apps that have now adopted some of snap's most popular tool. carol: advertisers have to want
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to be a part of snap. this what they are doing right now. they are tapping big-time into advertisers. reporter: snap once to sell advertisers on its creativity. they are saying we are the platform where you can reach the young people that don't go on television anymore. the people are on our at using it really frequently. they are obsessed with it. they are using it to send silly selfies to each other. snap is the only place, until today with an instant ram update, -- and instagram update, where you can do these funny filters on your face that turn you into a puppy or make you vomit rainbows. advertisers are buying into this and making these really creative tie-ins with snap. there is this big campaign of sigrid demaio where taco bell let people turn their heads into tacos -- campaign for cinco de mayo where taco bell let people
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turn their heads into tacos. now they are taking that into the real world. they are letting people put movie characters, whatever it may be, on to the real world, which is a technological step. it may be easy for the camera to recognize what parts of your face are your eyes and mouth and head, but it is harder to decide where should you put an item in the real world. technology,ng in brain training has moved way beyond cross world. -- beyond crossword puzzles. oliver: we talked to editor jeff muska's. reporter: the idea is you are looking at eegs of brain activity, and while the basic science underlying eeg-based brain assessments has become a cottage industry, there are
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patterns of brain activity associated with particular emotions, including arousal and attention, that seemed to produce certain maps of brain activity or really identifiable ones. there's now a growing industry of what are called new row feedback centers that are -- neurofeedback centers that use your brain activity to tell you, based on what we know about your brain after these sessions, we can teach you to evaluate symptoms of anxiety, depression, even autism. oliver: sounds pretty good on paper. and a our due diligence reporter went to one of these facilities. tell us about this company. neurocr: narrow core -- ore has been around since 2004 in one form of another, founded
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by a guy who's been using this kind of brain training exercises on kids in parochial schools and athletes and the like. this sort of new front facing, urocorell version of ne is a little more intense. - toy our reporter went in get his initial assessment done -- oliver: just drop on some electrodes 11 take a look? carol: what was his experience with mark he went 10 -- experience? went in for the initial assessment report the electrodes on your head, where gel on and study
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your brain patterns. they told him to focus on a fixed point to see how attentive his brain could get. it took about half an hour or so. then a technician came in and studied the map of brain activity and said, it felt almost a little like a fortune teller reading. like this blotch of blue means you get sleepy during the day, and this block of red means you have some trouble focusing. they took him into the next room, where it is a little more training focused. it is called the brain room. a second technician burst in and said, sorry, we showed you the wrong brain map. left them feeling a little less confident about the experience. carol: what did the second map say? the same thing or something different? reporter: the technician said the second map looks a lot more normal, that there is less to be concerned about, but that you
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still have some trouble focusing and recommended more sessions. oliver: this is really interesting. have you seen the movie "batman forever?" for jim carrey plays the riddler and puts the thing on that can read brain waves? there's a lot of science fiction behind the idea of reading the brain. but now it seems like there might be a little more science than fiction. neurocoreey say at about what the results are? reporter: fitted to be pretty careful about the ways in which they are wording their claims, but they have said of until the past week or so on their website that they stood by their claims that technology could be used to treat symptoms of anxiety, depression, autism, migraines, and the like. why a chinese peroxide
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company paid $1 billion for a talking cat. the world's 119th ranked golfer. this is bloomberg. ♪
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carol: welcome back to "bloomberg businessweek." oliver: you can get us on the radio at sirius xm channel 119 and on am 11 30 in new york and 1200 and boston. carol: and in london on the abm ux three and on asia on the bloomberg radio plus app. oliver: the curious case of the billion dollar cat. carol: and why a chinese peroxide company paid $1 billion for the talking tom app. reporter: they had worked in the local tech scene and decided to get into the economy -- into the
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apple economy -- into the app economy. they had of you that didn't work. one was about sending virtual hugs, and another was about healing crystals. then they hit it off with one called talking tom. oliver: this was around late 2000s. tell us about what the market was looking at the time for these things that have now become ubiquitous. reporter: it was about 2010 when this game came out. it was a kids game in which you could interact with a virtual cat. you pettitte and speak -- you pet it and speak into the microphone. this was the early days of the app store. you got a big hit, it could become immensely profitable. that is what happened to them, now they are making this company they created, outfit seven, making what hundred dollars -- $100 million a year in profit.
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carol: they eventually sold it, but not to your usual suspects. it wasn't a media or entertainment company. reporter: right. they are an example of a company that sold to a big chinese industrial firm, a maker of hydrogen peroxide and other chemicals. so you kind of go, why would a chemical company want to buy an act company? -- and company -- an app company? they have pretty thin profit margins and their business was slowing as the chinese economy has been taking a breather. so now they are looking to go into these other areas. if you have a successful game, it can be very profitable. oliver: so this is where it gets a little confusing. coml: wait, the peroxide pany with the videogame app? oliver: at the end of the day,
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they are forking over major sums of money to this company, you have to ask why. in the article you get into this. tell us about why these chinese companies are willing to go outside of their style to borrow cap on something completely different. how do you do that and why? reporter: there's a little bit of financial engineering here. more than a little. you have companies that have higher profit margins than what your traditional business is. in china, the weighty committees are valued, they can buy these way companies and 8 -- the these companies are valued, they can buy these game companies just based on how the chinese stock market is. oliver: as compared to in the u.s., when you look at those types of groups trading. so it is worth more in the
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chinese market. reporter: right. it is based very much so in china more than in the u.s. -- your stock price is almost exclusively tied to your profits. if you are trading at a multiple and can get more profit than you can really boost your stock price. by buying this game company which has profit margins of 40 plus percent compared to your chemical company, which is less than 10%, you can really use your stock price. oliver: you may have never heard of beats johnson, but he is a pro golfer. but the gulf is not really connected to the fame. he is the 119th best golfer in the world, which is pretty impressive. but his celebrity and fame really outpaces his golf talent at this point. he's a sort of pudgy britt. he came onto the scene a little more than a year ago he won the spanish open.
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in an interview after winning, he said he was going to go back home to get hammered. that endeared him to the fans. oliver: obviously everybody loves him. how can you not love a guy named beef who is going to throw back some brews? he the 119th ranked golfer right now. it may seem of a low number, but there are a lot of people playing golf, and he has monetized it very smartly. one in particular, arby's. mainter: arby's is his sponsor, and it is kind of perfect because there slogan is "we have the meets." -- the meats." they fell in love with him and have sponsored him full-time since january. these sort of informal rap sessions with him at bars called beef tips. i'll reporter went down to one in new orleans.
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he put a pint glass on the floor and had a bunch of college kids put into it. none of the new who he was, but now obviously he is their favorite golfer. carol: he doesn't say no to anything. if fans want to come up and talk to him and get his signature or whatever. reporter: he is really nice and really popular and fun, but to get really good at golf, to crack the top 50 which is his goal, you have to generally take monastic dedication to the sport. how do you do that and retain your personality? it is going to be his challenge going forward. oliver: the qualities that they him so appealing might be a hurdle he has to get past. reporter: that's right. if you was to keep these sponsorships coming in, you have to keep eating better -- keep getting better. you have to go from having bad rounds that are 75 to 77 to more like 70 or 71. you don't just wake up and start doing that. you have to practice. but if you want to go hang out
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at dubs with your friends, there is a trade-off. "arol: "bloomberg businessweek is available on newsstands now. oliver: what was your favorite story? carol: i think businessweek chat -- i think businessweek captured the story so well the trump administration and the questions involving president trump. a lookcklethwait takes at donald trump not as a politician, but as a business leader and asked the question, if the united states with a company, would you keep this guy as its ceo? an important question given that that is what donald trump campaigned on. i like the stories about companies looking at etsy. when you look at companies that put business on environmentally sustainability, the chickens have come home to roost because it is getting very expensive for them to keep doing it.
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i think it will be very indicative of what other companies are doing. more bloomberg television starts right now. ♪
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♪ >> welcome to the best of bloomberg markets middle east. i'm yousef gamal el-din. a lot will come down to what the incumbent president has been able to do in terms of the economy. that type back to what has been happening globally in terms of the sanctions from the united states and elsewhere. and in terms of what is going on with oil prices. saudi arabia raised $9,000.


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